A brand that became a generic term for photocopying, Xerox finally ran out of steam, almost 112 years after it was founded, bought by Fujifilm for $6.1 billion, in a deal announced on January 31.The company, which reported a loss of $196 million in the last quarter, suffered largely due to a falling demand for photocopiers as companies increasingly move toward a paperless office.
Xerox owes its success to Joseph C. Wilson, considered by many as the company's founder, seen here with the first automatic photocopier, the Xerox 914, that could churn out seven copies a minute. It was so named as it could copy originals up to 9 inches by 14 inches. The only hitch: it was prone to catching fire and came equipped with a fire extinguisher.By the time Wilson passed away in 1971, Xerox commanded a 70 per cent market share in the copier business.
The Model A Copier was the first machine from the Xerox stable, introduced in 1949. The concept of photocopying, known scientifically as electrophotography, was invented by Chester Carlson, a patent attorney, who later collaborated with Wilson to start mass production of photocopier machines.
The first photocopied document, done by Carlson, on October 22, 1938, on a machine made by Xerox's predecessor, The Haloid Photographic Company, that was started by Wilson's grandfather.
The name Xerox flowed from the term invented by Haloid for photocopying, xerography, formed from two Greek roots - xeros, meanning dry and graphia, meaning writing. Haloid started using Xerox as its brand name in 1949 and later, adopted it as the company name. Seen here, the evolution of the company's brand and logo.
Fujifilm will absorb Xerox into its joint venture, Fuji Xerox, that was formed in 1962. About 10,000 jobs are expected to be cut following the takeover.